Indian Economy Current Affairs Updates For UPSC IAS Mains 2024 Examination
On this page you will find articles that falls under subject Indian Economy for UPSC IAS Mains 2024 examination
India’s economic growth-Calibrating a strategy for India’s future growth
Source: The post India’s economic growth has been created on the article “Calibrating a strategy for India’s future growth” published in “The Hindu” on 11th December 2023. UPSC Syllabus Topic: GS paper 3- Indian Economy- growth, development and employment. News: The article discusses India’s economic growth. It mentions different growth predictions from the RBI, IMF,… Continue reading India’s economic growth-Calibrating a strategy for India’s future growth
On Innovation in India – Rework the risk-reward matrix for innovation gains
Source: This post on Innovation in India has been created based on the article “Rework the risk-reward matrix for innovation gains” published in “Live Mint” on 7th December 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Growth and Development. News: The article discusses the advantages India has with respect to growing its footprint… Continue reading On Innovation in India – Rework the risk-reward matrix for innovation gains
Improving GST Regime-Creating certainty
Source: The post Improving GST regime has been created on the article “Creating certainty” published in “The Hindu” on 7th December 2023. UPSC Syllabus Topic: GS Paper 3- Indian Economy- resource mobilization (taxation) News: This article discusses the growth in India’s Goods and Services Tax (GST) revenue. The article points to the recent high collections… Continue reading Improving GST Regime-Creating certainty
On India’s Forex Reserves – Decoding the fall and rise of India’s forex reserves
Source: This post on India’s Forex Reserves has been created based on the article “Decoding the fall and rise of India’s forex reserves” published in “Live Mint” on 6th December 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy and issues relating to planning and mobilization of resources. News: The article discusses the recent rise… Continue reading On India’s Forex Reserves – Decoding the fall and rise of India’s forex reserves
On the Creator Economy – In the wings
Source: The post on the Creator Economy has been created based on the article “In the wings: The Creator Economy” published in “Business Standard” on 4th December 2023. UPSC Syllabus Topic: GS Paper 3 – Indian Economy News: The article discusses the advantages of the creation of a creator economy based on NFTs and Blockchain.… Continue reading On the Creator Economy – In the wings
On the state of India’s Economy – Patchy expansion
Source: The post on the state of India’s Economy has been created based on the article “Patchy expansion” published in “The Hindu” on 2nd December 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Growth. News: The article discusses the recent data released by the NSO regarding the state of the Indian economy in… Continue reading On the state of India’s Economy – Patchy expansion
On India’s inclusion in Global Bond Index – Caution: The watch word for bond index inclusion
Source: The post on India’s inclusion in Global Bond Index has been created on the article “Caution: The watch word for bond index inclusion” published in “Live Mint” on 30th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to mobilization of resources. News: The article discusses the… Continue reading On India’s inclusion in Global Bond Index – Caution: The watch word for bond index inclusion
On Currency in Circulation – Cash questions
Source: The post on Currency in Circulation has been created on the article “Cash questions” published in “Business Standard” on 30th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy. News: The article discusses the issue of currency in circulation increasing in India despite a significant growth in digital payments at the same time.… Continue reading On Currency in Circulation – Cash questions
Rekindling corporate investment
Source: This post has been created on the article “Rekindling corporate investment” published in “Business Standard” on 29th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy and issues relating to mobilization of resources. News: This article discusses the stagnant corporate investment rate in India in the last decade. It also highlights the factors… Continue reading Rekindling corporate investment
From fossil fuels to cleaner energy- clean energy share in India and its States’ electricity mix
Source: The post from fossil fuels to cleaner energy has been created on the article “Clean energy share in India and its States’ electricity mix” published in “The Hindu” on 29 November 2023. UPSC Syllabus Topic: GS paper 3- Economic development- infrastructure (energy) News: The upcoming U.N. climate summit in Dubai highlights the varying progress… Continue reading From fossil fuels to cleaner energy- clean energy share in India and its States’ electricity mix
International Agreements vs domestic laws – In international law, government cannot override Parliament
Source: This post on International Agreements vs domestic laws has been created on the article “In international law, government cannot override Parliament” published in “Indian Express” on 28th November 2023. UPSC Syllabus Topic: GS paper 3- Indian Economy – Mobilisation of resources (Taxation) News: The article discusses a ruling by India’s Supreme Court (Nestle SA… Continue reading International Agreements vs domestic laws – In international law, government cannot override Parliament
On Currency Substitution – Can dollarisation save an economy?
Source: The post on Currency Substitution has been created on the article “Can dollarisation save an economy?” published in “The Hindu” on 28th November 2023. UPSC Syllabus Topic: GS Paper 3 Economy –Issues relating to planning, mobilization of resources, growth. News: The article discusses the possible advantages as well as the challenges of currency substitution… Continue reading On Currency Substitution – Can dollarisation save an economy?
On Indian Railways’ Finances – For a railway business plan
Source: This post on Indian Railways’ Finances has been created based on the article “For a railway business plan” published in “Business Standard” on 25th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Infrastructure: Railways. News: This article discusses the reasons for the poor revenue of Indian Railways and its various outcomes.… Continue reading On Indian Railways’ Finances – For a railway business plan
India’s economic growth and inequality- A $5 trillion economy, but for whom?
Source: The post on India’s economic growth and inequality has been created based on the article “A $5 trillion economy, but for whom?” published in “The Hindu” on 24th November 2023. UPSC Syllabus Topic: GS Paper3- Indian Economy- Issues relating to planning, growth, development and employment; Inclusive growth and issues arising from it. News: The… Continue reading India’s economic growth and inequality- A $5 trillion economy, but for whom?
On Public Consultations in economic policy – Listen to the people, not the numbers
Source: The post on Public Consultations in economic policy has been created on the article “Listen to the people, not the numbers” published in “The Hindu” on 23rd November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to planning and employment. News: The article discusses the issues with… Continue reading On Public Consultations in economic policy – Listen to the people, not the numbers
Train accidents in India – TRACK CHANGES- Accidents are on the rise as the railway infra grapples with increasing pressure. How can it cope?
Source: The post train accidents in India, has been created on the article “TRACK CHANGES- Accidents are on the rise as the railway infra grapples with increasing pressure. How can it cope?” published in “Live mints” on 23rd November 2023. UPSC Syllabus Topic: GS Paper 3- Economy- Infrastructures (railway) News: The article discusses recent train… Continue reading Train accidents in India – TRACK CHANGES- Accidents are on the rise as the railway infra grapples with increasing pressure. How can it cope?
On Fraudulent Digital Lending – RBI, loan scammers and financial literacy
Source: The post on Fraudulent Digital Lending has been created based on the article “RBI, loan scammers and financial literacy” published in “Indian Express” on 22nd November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to mobilization of resources. GS Paper 3 Internal Security – Basics of cyber… Continue reading On Fraudulent Digital Lending – RBI, loan scammers and financial literacy
On the issues with the 70 Hours Work Week – Making sense of the employment challenge
Source: The post on the issues with the 70 Hours Work Week has been created based on the article “Making sense of the employment challenge” published in “The Hindu” on 21st November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to growth, development and employment. News: The article… Continue reading On the issues with the 70 Hours Work Week – Making sense of the employment challenge
IT hardware import policy- Making in India- Policy needs to go beyond PLI
Source: The post on India’s IT hardware import policy has been created on the article “Making in India- Policy needs to go beyond PLI” published in “Business Standard” on 21st November 2023. UPSC Syllabus Topic: GS Paper3 Indian Economy- Effects of Liberalisation. News: The article discusses India’s attempts to reduce IT hardware imports and increase… Continue reading IT hardware import policy- Making in India- Policy needs to go beyond PLI
Climate-proof sanitation – Not just sanitation, but climate-proof sanitation
Source: The post on climate-proof sanitation has been created on the article “Not just sanitation, but climate-proof sanitation” published in “Indian Express” on 21st November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – infrastructure. News: The article discusses how climate change affects water, sanitation, and hygiene in Indian cities, particularly in slums. It… Continue reading Climate-proof sanitation – Not just sanitation, but climate-proof sanitation
India’s edible oil imports – The other oil imports India needs to worry about
Source: The post on India’s edible oil imports has been created on the article “The other oil imports India needs to worry about” published in “Indian Express” on 20th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Food processing and related industries in India- scope and significance, location, upstream and downstream requirements,… Continue reading India’s edible oil imports – The other oil imports India needs to worry about
On the Impact of Soft Power on Indian Economy – India’s economic rise
Source: This post on the Impact of Soft Power on Indian Economy is based on the article “India’s economic rise: How to capitalise on the moment” published in Indian Express on 17th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Growth and development News: The article discusses India’s impressive economic growth and… Continue reading On the Impact of Soft Power on Indian Economy – India’s economic rise
On the Solar energy mini-grids – energy security, with a little help from the Sun
This post on Solar energy mini-grids has been created based on the article ‘The small grid – energy security, with a little help from the Sun’, published in The Indian Express on 14th November 2023. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Infrastructure and Energy – Solar energy News: The article discusses… Continue reading On the Solar energy mini-grids – energy security, with a little help from the Sun
On Tax demands from the Gaming industry – On gaming industry rules
Source: This post on tax demands from the gaming industry is based on the article “On gaming industry rules, the Indian government is not following the letter of the law” published in ”Indian Express” on 8th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Mobilization of resources (Taxation). News: The article discusses… Continue reading On Tax demands from the Gaming industry – On gaming industry rules
On the issues with Old Pension Scheme – Pension bloat
Source: This post on the issues with Old Pension Scheme has been created based on the article “Pension bloat” published in Live Mint on 7th November 2023. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Government Budgeting. News: This article discusses the problems of returning to the Old Pension Scheme. A detailed article on the… Continue reading On the issues with Old Pension Scheme – Pension bloat
How to read Indian Economy for UPSC
In UPSC IAS preparation, one subject which most of the students find very difficult to start with and understand is Indian Economy. They mostly struggle with the approach, textbooks to follow and how to read Indian Economy related news in the newspaper.
Indian Economy consists of both static as well current affairs. In this subject, textbook will build your basic understanding and help you to solve around 3-5 % of the total questions asked in the UPSC Prelims exam. Students need to refer multiple sources to better understand Indian Economy and fetch good marks in both UPSC Prelims and Mains. Every year around 10-15% questions are asked in UPSC Prelims exam from static portion, current affairs (schemes) and India Year Book. It has even increased up to 30 % in 2018 and 2019 UPSC Prelims exam. So, in any case students cannot avoid this subject as it is as important as History, Polity and Geography.
In this article, we will discuss in detail about the study approach of Indian Economy. This article would be very helpful for those who are scared of this subject and always try to run away from this. Once you will understand the basic concepts of Indian Economy, you will start enjoying this subject and eventually you will have a good command over this subject.
Before starting any subject in UPSC IAS preparation, it is advisable for all the students to see the past year trend of both UPSC Prelims and Mains questions. Indian Economy is part of both UPSC IAS Prelims Syllabus and UPSC Mains Syllabus. Hence, it becomes very important for the students to study this subject with right approach and have a good understanding over the topics asked in the exam.
In the following table, we will see the total number of questions asked in the UPSC Prelims exam in last 6 years from Indian Economy:
prelims 2021 – 14
2022 – 18
2023 – 12
| Year | Total number of questions asked |
| 2020
| 14
|
| 2019
| 28
|
| 2018
| 29
|
| 2017
| 14
|
| 2016
| 15
|
| 2015
| 21
|
Overview of the UPSC IAS syllabus for Indian Economy:
| Phase | Syllabus |
| UPSC Prelims- General Studies (Paper I)
| Economic and Social Development – Sustainable Development, Poverty, Inclusion, Demographics, Social Sector initiatives, etc.
|
| UPSC Mains- General Studies (Paper III)
| Economic Development
|
Study approach of Indian Economy subject for UPSC IAS:
- Read the syllabus: Students need to go through the syllabus of Indian Economy for both UPSC Prelims and Mains. It will give them a detailed guideline about what they have to read and what they have to leave. Print the syllabus and stick that in that in your study table.
- Start with the basic NCERT textbooks: To understand the basic concepts. One should start the preparation of Indian Economy with NCERT textbooks. One simply read the book, highlight the important point and revise them. Notes making is not much important here. Following are the NCERT textbooks which one need to read:
- Class IX NCERT textbook ‘Economics’
- Class X NCERT textbook ‘Understanding Economic Development’.
- class XI NCERT textbook ‘Indian Economic Development’.
- Class XII NCERT textbook ‘Introductory Microeconomics’.
- class XII NCERT textbook ‘Introductory Macroeconomics’ (Most important).
- Take a step forward with advance book: To cover each topic thoroughly and understand everything in detail, students need to refer one advance book for Indian Polity. ‘Indian Economy’ by Ramesh Singh is simple and good book to understand the topics. Here also, one should not run behind taking notes of each topic. Highlighting the things and multiple revision would be helpful for students.
- Current Affairs: Indian Economy is totally linked with current affairs. Topics like SLR, RR, GDP are current based. One must refer monthly current affairs magazine to cover current based issues. One thing is very important to note that, no current affairs magazine can substitute the Newspapers. To cover Indian Economy related news, “Economic Times or Business Standards” would be recommendable.
- Refer other miscellaneous materials: After reading Economic Survey and Budget, your preparation will be complete. Economy Survey and Budget will give you basic idea about How our country is developing. What is growth, what is the expenditure and revenue? This will help you in both UPSC Prelims and Mains. One can also refer Economic and Political Weekly (EPW) magazine. This is completely optional and will only be helpful when you have completed and revised the other things.
- Focus more on Government Schemes and some important topics of Indian Economy: UPSC every year ask lots of questions on Government Schemes related to Indian Economy. Students must cover every schemes thoroughly and they can also make short notes on them and revise them. Some important topics of Indian Economy on which students need to focus more are:
- National income accounting, GDP, GNP, inflation, balance of payment, fiscal policy, monetary policy, RBI, PSL, NBFC.
- Finance commission – terms of references, themes.
- International organizations – World Bank, IMF, WTO, UNCTAD, WEF and their reports. Bodies like G-15, G-7, G-33, etc.
- Basic economic terms, demographic dividend, inclusive growth.
- Taking help of online sources: Students should utilize the benefits of integration of technology in education. Topics which they find difficult to understand, can easily get command over those topics with the help of You tube, online classes etc. On these platforms, they can read and revise the topics multiple times.
- Refer Previous year UPSC Prelims and Mains questions: Analyzing the past year papers will help students to have a clear understanding of which types of questions are asked by UPSC. On these lines, students should give the second reading to the advance book and NCERTs.
- Practice mock tests: After completing the syllabus once, students need to give mock tests. Firstly, they can solve MCQs topic wise. After that, weekly they can solve MCQs based on complete syllabus of Indian Economy. It will help them to reduce their fear and also build their logic on solving MCQS.
- Answer writing practice: After completing the whole syllabus once, students must start answer writing practice on Previous Years Question of UPSC Mains. They should also practice daily/weekly answer writing based on their capacity.
- Revision is the key: Revision is the key to Success. Students need to revise each and every topic multiple times. Revision will boost their preparation and help to make a blueprint of everything in the back of the mind. It will reduce the time taken in the final exam (Prelims and Mains) to solve the questions.
Indian Economy is an interesting and concept-based subject. One cannot understand the subject if will try to simply mug up the things like in History they do. Understanding the things and solving MCQs with logic will help them a lot.
